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Hi! Newly found this page today and looks like it has a lot of great info. My current score is 650 (equifax) and I am looking to replacing my aging trailblazer with a new leased vehicle (probably about $23,000??). My question, what kind of impact does that type of credit score have on a lease option? Maybe this isn't something that can be answered through here, but thought it might be a good place to try. I do have a couple of negative things on file, but they were all last year and lasted no more than one 30 day period for each (I think a total of 3 or 4 things that had a 30 day late marker on them). Otherwise, credit is going pretty smooth. Husband and I will be working to pay off ALL credit card debt by the end of this summer to help increase both our scores, though I'd really like to start a lease now. Do I wait until the end of the summer and see how far our scores have gone (and drop more $$ into the aging blazer that in the end I will be getting rid of) or try for a lease right now? I guess my big question is are leases harder to come by than auto loans?
Thanks!
In general leases are harder to come by then an actual purchase. At your score, you may be SOL on a lease, or at getting a lease at terms for more favorable then a purchase.
Thanks...sounds like I'm better off putting some $$ into the blazer for now and working on paying it off and improving the score over the next year.
at a 650 I can't tell you that. Your best bet would be to go in and see what you can get.